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David Enterprises' bonds have a 15-year maturity, a 6.25% semiannual coupon, and a par value of $1,000. The going interest rate (r d) is 4.75%,
David Enterprises' bonds have a 15-year maturity, a 6.25% semiannual coupon, and a par value of $1,000. The going interest rate (r d) is 4.75%, based on semiannual compounding. What is the bond's price?
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Financial Markets And Institutions
Authors: Jeff Madura
8th Edition
0324568215, 978-0324568219
